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Cable Update (GBPUSD)

  • #448,501
  • Jan 30, 2017 10:59pm Jan 30, 2017 10:59pm
Quoting PayTheLimit
..think I'll be sidelined overall today...
Having no position is also a position, like they say.
  • #448,502
  • Jan 30, 2017 11:03pm Jan 30, 2017 11:03pm
Quoting Mr Breakout
Short GBP/USD at 1.2510, 25 pip stop.
Out at the same price (1.2510), I am still receiving mixed signals.
  • #448,503
  • Jan 30, 2017 11:06pm Jan 30, 2017 11:06pm
Quoting Mr Breakout
{quote} Out at the same price (1.2510), I am still receiving mixed signals.
why you trade these hours and not London? Its a crap time now...
Look Sharp/Trade Tight
  • #448,504
  • Jan 30, 2017 11:10pm Jan 30, 2017 11:10pm
end of the month today also...
Look Sharp/Trade Tight
  • #448,505
  • Jan 30, 2017 11:11pm Jan 30, 2017 11:11pm
Quoting PayTheLimit
{quote} why you trade these hours and not London? Its a crap time now...
I know, but I cannot trade London, I live in New York City.
London's session starts at 3AM for me, I cannot stay up that late, especially at my age...
  • #448,506
  • Jan 30, 2017 11:13pm Jan 30, 2017 11:13pm
Quoting Mr Breakout
{quote} Cannot trade London, I live in New York City. London's session starts at 3AM for me, I cannot stay up that late, especially at my age...
That sucks, used to have the same problem when I lived stateside. What about the yen, you do any business in there?
Look Sharp/Trade Tight
  • #448,507
  • Jan 30, 2017 11:17pm Jan 30, 2017 11:17pm
Quoting PayTheLimit
What about the yen, you do any business in there?
Oh yes, I love the Yen, the AUD and the NZD (and all their crosses of course), sometimes they deliver spectacular trends.
Like I said earlier, I watch 28 currency pairs daily, not just the cable.
  • #448,508
  • Jan 30, 2017 11:21pm Jan 30, 2017 11:21pm
Quoting Mr Breakout
{quote} Oh yes, I love the Yen, the AUD and the NZD (and all their crosses of course), sometimes they deliver spectacular trends. Like I said earlier, I watch 28 currency pairs daily, not just the cable.
lol, yes you mentioned it..still think that's nuts...

you no trade S&P's or bonds ever? Or Crude?
Look Sharp/Trade Tight
  • #448,509
  • Jan 30, 2017 11:27pm Jan 30, 2017 11:27pm
Quoting PayTheLimit
S&P's or bonds ever? Or Crude?
I used to trade the e-mini S&P 500 and the DAX in the Futures market.

However, these financial instruments are mean-reverting, meaning they don't respond well to trend following techniques.

The bonds trend very well on the other hand, but as a day trader I don't like their small daily range.

Crude oil is a no no for me, one day I got caught in a nasty limit move and I lost a bundle!
  • #448,510
  • Jan 30, 2017 11:32pm Jan 30, 2017 11:32pm
Quoting Mr Breakout
{quote} I used to trade the e-mini S&P 500 and the DAX in the Futures market. However, these financial instruments are mean reverting, meaning they don't respond well to trend following techniques. The bonds trend very well on the other hand, but as a day trader I don't like their small daily range. Crude oil is a no no for me, one day I got caught on a limit move and I lost a bundle!
yea, I would have to agree with you, I traded them too, hated them all also....but they say trade your time zone if you can...
Look Sharp/Trade Tight
  • #448,511
  • Jan 30, 2017 11:34pm Jan 30, 2017 11:34pm
I always wished coffee had longer NY hours, but generally NY is a bunch of crooks...
Look Sharp/Trade Tight
  • #448,512
  • Jan 30, 2017 11:37pm Jan 30, 2017 11:37pm
Quoting PayTheLimit
but generally NY is a bunch of crooks...
Come on now, crooks are EVERYWHERE, not just in NY

And yes, coffee futures trend well too.
  • #448,513
  • Jan 30, 2017 11:39pm Jan 30, 2017 11:39pm
Quoting Mr Breakout
{quote} Come on now, crooks are EVERYWHERE, not just in NY
lol, true, but I'm from Chicago, so we always hated them NY markets more....not to mention we generally where held to the uptick/downtick rule...
Look Sharp/Trade Tight
  • #448,514
  • Jan 30, 2017 11:45pm Jan 30, 2017 11:45pm
Quoting PayTheLimit
not to mention we generally where held to the uptick/downtick rule...
Oh, that infamous uptick/downtick rule

Thanks God we don't have that rule in the Forex market!
  • #448,515
  • Jan 30, 2017 11:49pm Jan 30, 2017 11:49pm
Quoting Mr Breakout
{quote} Oh, that infamous uptick/downtick rule Thanks God we don't have that rule in the Forex market!
lol, well your right there too, what that rule was in effect, was a limit on how much you could steal...
Look Sharp/Trade Tight
  • #448,516
  • Jan 30, 2017 11:50pm Jan 30, 2017 11:50pm
This is probably the longest ascending channel I have ever seen, as far as the cable is concerned.

Seriously, how far would it go?
Attached Image (click to enlarge)
Click to Enlarge Name: image.png Size: 188 KB
  • #448,517
  • Jan 30, 2017 11:50pm Jan 30, 2017 11:50pm
ok, need some eggs..back later..dont see one thing interesting right now...good luck
Look Sharp/Trade Tight
  • #448,518
  • Jan 30, 2017 11:52pm Jan 30, 2017 11:52pm
Quoting PayTheLimit
was a limit on how much you could steal...
Hahahaha, I hear you
  • #448,519
  • Jan 31, 2017 12:30am Jan 31, 2017 12:30am
bear are taking over waiting to see if 2518 will hold as resistance to the down side
  • #448,520
  • Jan 31, 2017 12:36am Jan 31, 2017 12:36am
Quoting adetola99
bear are taking over
Not quite yet I am afraid, the cable is probably going to test 1.2520 for the last time before dropping like a stone (hopefully).

This is just my opinion folks, don't try this at home like they say on TV
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